How to launch a successful ICO?
Jan 13, 2018 Posted / 1595 Views
If in 2016, only limited people knew about digital assets and cryptocurrencies, by the start of 2018, every other person has built some opinion about it. Bitcoin was one of the most buzzed and trending words of 2017, even the insights by Google trends confirm it. Bitcoin made a massive step forward, on the other hand, digital currencies like Ethereum, Litecoin, and alike made their distinct contributions to this crypto-mania. However, it still needs to reach its goal of mass adoption, as still a considerable amount of population is an unknown phenomenon.
But the year 2017 was also distinct in one more respect that people around the world were involved in launching their unique set of initial coin offering (ICO) campaigns. There were so many projects that began in the market that almost every day you could hear about a new ICO being launched, while all this time snowballing ICO funding approached US$4 billion by the end of the last year.
However, ICOs are unfettered ways of raising funds and new cryptocurrency ventures. To explain it plainly, companies utilize ICOs to release and sell a part of their tokens to investors, frequently in exchange for Ethereum. This particular method is great for raising initial funds to expand their own products, and investors collect a proportion of the token shares.
As per the cryptocurrency specialists, ICOs are not as simple fundraising mechanism as the may seem, and you will require premeditating strategy before actually launching your campaign.
Here in this article, we will reveal 6-point mantra launch the most successful ICO.
It is necessary for every campaign to define its objectives in its White paper and roadmap. If these documents are created suitably, these can heighten the confidence of potential investors. White paper should explain an issue and the way your ICO arrange to solve this problem. Remember that it is a technical proposal for your product in which you explain its system model, projected growth, and specific details of the ICO.
The roadmap should put down the timeline of your ICO’s activities. A roadmap establishes each stage of your campaign, from project idea to launch to budgeting to seed rounds and security review.
The success of your ICO projects will hugely depend on your team of professionals who have the prior knowledge and experience required to manage such kind of campaigns. A group of highly skilled folks, you will heighten and advance the project objectives while convincing investors that your product is dependable.
The team section could comprise of profiles and resumes of team members on your website, accentuating their former projects. Adding photos and links to social media accounts of your team can provide more reliability. If you can encourage partners to have faith in your team, you will not have to worry about your crowdsale.
A great team will need also need a consistent digital tool to sustain your crowdsale campaign. The market is flooded with numerous ICO tools that can match your requirement. For example, BlockStarter permits you to exchange your ICO idea with different blockchain contributors around the world. The platform can establish all stages of the project to potential investors who can scrutinize the stipulations and instantly make a decision whether to buy tokens or not.
ICO pricing strategy will establish your goals and growth prospects. The first approach could be not fixing the price and investors can receive a proportional amount of coins according to their contribution to the project. Second, you can fix the price and investors can buy fixed-price tokens but trade them only after a freezing period.
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There is another unique strategy called the Dutch auction, which means that the first coins could be most costly, but the price decreases gradually over the investment period. You can also adopt the price rise ICO strategy where the most nimble investors can get the finest price for your tokens.
Major serious investors will instantly partake in your campaign if you provide them with a working and tested product. You should contemplate about how to present your idea and ROI, and if the product developed to the point that it can easily support your claims, then you might not need to worry. This will entirely depend on the unique features of your token; however, you may need to finish this task before appealing partners to participate in your crowdsale.
Since last year there has been a profusion of ICO campaigns, which is why it is quite complicated to prepare a good PR strategy before and during the project. Blogs and social media are part of your campaign and you should also post high-quality status updates and comments to validate that you are a credible source. You can utilize online communities to detail about your ICO, and additionally, you can also hire a social influencer and opinion leader from the appropriate field for a better breakthrough.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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